What is it good for?
This is best in slot for any Warlock that can achieve 90% MDEF bypass while wearing Celine's Ribbon. It's also best in slot for Auto Casting Sorcerer's when paired with Evil Spirit Glove, it gives so many little bonuses AND cast Recognized Spell, Earth Grave and Varetyr Spear at what appears to be at least a 2~3% chance.
It also serves as a really good WoE headgear, as it is only 2% shy of a +12 Red Pom Band in terms of Demi-Human reduction, however it also gives you permanent sacra (which is okay, but nothing to write home about) and it gives All Stats + 1 per upgrade level of the item up to a maximum upgrade level of 10, so on average you can rock +9 All Stats which is amazing for instant variable casting.
Why is it at it's current price?
It's the rarest drop, if we were going by effectiveness, I would argue Fairy Leaf Powder and Clergy Nurse Cap would be the top contenders considering how much of an impact they have. Hell, even Hibram's Gloves are really powerful when combined with a properly enchanted RWC.
But the boss damage it gives is so high, why isn't it that powerful?
Boss damage is the same as regular damage, only it only takes effect on Boss monsters, this means if you already have 20~30% MATK % from other items, this will have really quick diminishing returns over what other items can offer. It is also why a persons ability to bypass MDEF is taken into consideration, because MDEF reduction is applied around the end of the formula whereas MATK % is around the middle, therefore it has more weight, and due to -_-ty MDEF values for most MVPs, it means that you need on average 90% reduction to see significant return from MDEF bypass, but the end results are worth it.
As Ashuckel explained, for Sorcs, they have a Bio5 headgear which improves Varetyr Spear by quite a lot, and it is a skill that is used frequently when combo'ing with Sorcerer spells. As for non-Pororoca combos, obviously if you own a High Wizard Card, this hat would be great, but otherwise you are forced to use a Level 3 Weapon, which means the like of Sunflower Boy (which is pretty amazing) would not be able to be used, and would also mean not using things such as Runaway Magic.
I hope this helps explain where this item is at.
Edited by Nirvanna21, 13 October 2017 - 01:56 PM.